Tuesday 14 August 2012

HELOC tightening, starting with RBC tomorrow

HELOC 房地产净资产抵押贷款开始收紧
RBC "Home line" line of credit 明日起 从80%借贷比例减至65%。
($500,000房，原本可借出最多$400,000 LOC, 明日起最多只能借出$325,000 LOC)

BMO "ReadiLine" line of credit 可能月底跟进。
其他各大银行可能在近期跟进。
这对加国零售业，就业率等等将造成负面影响。
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2 comments:

  1. another value investor14 August 2012 at 16:34

    Are existing HELOC affected or can stay at >80%?

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  2. GF14 August 2012 at 16:55

    nope, existing heloc's won't be affected.
    under the new rules, you can still borrow at 80% LTV under the "home line" umbrella, just that 65% max on LOC (ie. can be interest-only), and 15% max on mortgage (ie. principle+interest)

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